Pretty grim right now. Just too much political stupidity on both side of the Atlantic.

Venture is starting to crack (a major concern). It had held up really well until today. Most other markets have retraced about half the Oct gains, so today or tomorrow would be a logical time for a bounce. A bounce will come because we are extremely oversold - it's the quality of the bounce that matters. A weak bounce would only mitigate the oversold conditions and allow for more downside. Then we'd likely get the test of the Oct. low (uggh!).

Hopefully, we get a good strong bounce - the pretext will be another fix of Europe or a last minute budget deal in the US.

Interesting article on how Goldman is taking over Europe.

http://www.independent.co.uk/news/business/analysis-and-features/what-price-the-new-democracy-goldman-sachs-conquers-europe-6264091.html